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Draghi: ECB 'Trusts' 3-Year Loans Will Serve Real Economy

By

Margit Feher

Updated April 24, 2012 1:16 p.m. ET

It's up to individual banks how they use the three-year loans Volume of banks' overnight ECB deposits not meaningful indicator of policy success, Draghi says Adds banks using ECB's overnight deposit facility, to large extent, not same as borrowers

FRANKFURT (Dow Jones)--The European Central Bank is confident the wider economy will eventually benefit from its cheap three-year loans to euro-zone banks, President Mario Draghi said Tuesday.

Banks tapped the ECB for over EUR1 trillion in two refinancing operations in December...